Thu Jan 09 16:50:45 UTC 2025: ## TCS Reports Strong Q3 Results Despite Sectoral Slowdown

**Mumbai, India –** Tata Consultancy Services (TCS), India’s largest IT services company, announced a robust 12% year-on-year (YoY) increase in its consolidated net profit for the December 2024 quarter, reaching ₹12,380 crore. Revenue for the quarter grew by 5% to ₹63,973 crore. The company also declared an interim dividend of ₹10 per share and a special dividend of ₹66 per share, payable on February 3rd to shareholders on record as of January 17th.

While overall results were positive, growth varied across sectors. The Banking, Financial Services and Insurance (BFSI) segment showed a 0.9% YoY increase, and the consumer business grew by 1.1% YoY. However, the communication and media segment declined by 10.6% YoY, and life sciences and healthcare saw a 4.3% YoY decrease.

TCS attributed its strong performance to excellent total contract value (TCV) performance across various industries and geographies. The company also highlighted its continued investment in employee upskilling and a robust campus hiring program. Attrition remained at 13% for the last twelve months, while the workforce stood at 607,354 employees, with a diverse representation of women (35.3%) and nationalities (152). The company also announced continued progress in its patent applications, with 195 new applications during the quarter, bringing the total to 8,549.

Despite positive overall results, analysts had predicted muted growth for the quarter. While the company exceeded some expectations, the mixed sectoral performance suggests a cautious outlook for the IT sector moving forward. The impact of client budget finalization for 2025 will be a key factor to watch in the coming quarters.

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